Richardson Electronics (NASDAQ:RELL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Richardson Electronics, Ltd. (NASDAQ:RELL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.99 and traded as high as $16.60. Richardson Electronics shares last traded at $16.59, with a volume of 112,684 shares changing hands.

Analysts Set New Price Targets

RELL has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Richardson Electronics currently has a consensus rating of “Buy” and an average price target of $24.00.

Richardson Electronics Stock Up 0.2%

The business’s fifty day moving average is $18.09 and its 200 day moving average is $16.03. The firm has a market capitalization of $253.55 million, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The firm had revenue of $66.20 million during the quarter, compared to analyst estimates of $55.37 million. Equities research analysts expect that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Friday, August 7th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, August 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. Richardson Electronics’s dividend payout ratio (DPR) is presently 54.55%.

Insiders Place Their Bets

In other Richardson Electronics news, CFO Robert Ben sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $21.61, for a total value of $194,490.00. Following the sale, the chief financial officer owned 60,534 shares in the company, valued at approximately $1,308,139.74. The trade was a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Wendy Diddell sold 23,901 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $20.00, for a total value of $478,020.00. Following the transaction, the chief operating officer directly owned 114,150 shares of the company’s stock, valued at approximately $2,283,000. This trade represents a 17.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 133,585 shares of company stock worth $2,565,216 in the last 90 days. Company insiders own 31.65% of the company’s stock.

Institutional Trading of Richardson Electronics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aristides Capital LLC boosted its holdings in shares of Richardson Electronics by 4.7% in the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after buying an additional 940 shares during the last quarter. Empowered Funds LLC lifted its stake in Richardson Electronics by 7.6% in the first quarter. Empowered Funds LLC now owns 20,596 shares of the technology company’s stock valued at $226,000 after acquiring an additional 1,454 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Richardson Electronics by 19.1% during the 1st quarter. Ritholtz Wealth Management now owns 22,958 shares of the technology company’s stock worth $251,000 after purchasing an additional 3,680 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of Richardson Electronics by 36.4% in the 4th quarter. Globeflex Capital L P now owns 16,327 shares of the technology company’s stock valued at $178,000 after purchasing an additional 4,355 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Richardson Electronics by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company’s stock valued at $1,012,000 after purchasing an additional 5,506 shares during the last quarter. Institutional investors own 71.95% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for industrial, healthcare, aviation and other specialized markets. The company serves original equipment manufacturers, maintenance providers and end users through its technical expertise, product distribution capabilities and customized engineering services.

Its business is organized around several principal areas. Richardson Healthcare supplies replacement parts and components for medical imaging systems, including ultrasound transducers and other products used in diagnostic imaging equipment.